Consumption smoothing in the working-class households of interwar Japan
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arXiv
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| Format: | Preprint |
| Veröffentlicht: |
2018
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| _version_ | 1866911783128662016 |
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| author | Ogasawara, Kota |
| author_facet | Ogasawara, Kota |
| contents | I analyze factory worker households in the early 1920s in Osaka to examine idiosyncratic income shocks and consumption. Using the household-level monthly panel dataset, I find that while households could not fully cope with idiosyncratic income shocks at that time, they mitigated fluctuations in indispensable consumption during economic hardship. In terms of risk-coping mechanisms, I find suggestive evidence that savings institutions helped mitigate vulnerabilities and that both using borrowing institutions and adjusting labor supply served as risk-coping strategies among households with less savings. |
| format | Preprint |
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arxiv_https___arxiv_org_abs_1807_05737 |
| institution | arXiv |
| publishDate | 2018 |
| record_format | arxiv |
| spellingShingle | Consumption smoothing in the working-class households of interwar Japan Ogasawara, Kota General Economics Economics Applications I analyze factory worker households in the early 1920s in Osaka to examine idiosyncratic income shocks and consumption. Using the household-level monthly panel dataset, I find that while households could not fully cope with idiosyncratic income shocks at that time, they mitigated fluctuations in indispensable consumption during economic hardship. In terms of risk-coping mechanisms, I find suggestive evidence that savings institutions helped mitigate vulnerabilities and that both using borrowing institutions and adjusting labor supply served as risk-coping strategies among households with less savings. |
| title | Consumption smoothing in the working-class households of interwar Japan |
| topic | General Economics Economics Applications |
| url | https://arxiv.org/abs/1807.05737 |